USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Sep 21, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $196,800,000 for a ticket purchased in New Jersey, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Sat, Sep 21, 2024
Jackpot:$196,800,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,962,122$1,054,173$318,428$1,589,521
2$3,110,229$1,108,972$334,350$1,666,907
3$3,265,740$1,166,512$351,067$1,748,161
4$3,429,027$1,226,928$368,620$1,833,479
5$3,600,478$1,290,365$387,051$1,923,062
6$3,780,502$1,356,974$406,404$2,017,125
7$3,969,527$1,426,913$426,724$2,115,890
8$4,168,004$1,500,349$448,060$2,219,594
9$4,376,404$1,577,457$470,463$2,328,483
10$4,595,224$1,658,421$493,987$2,442,817
11$4,824,985$1,743,432$518,686$2,562,867
12$5,066,235$1,832,695$544,620$2,688,920
13$5,319,546$1,926,420$571,851$2,821,275
14$5,585,524$2,024,832$600,444$2,960,248
15$5,864,800$2,128,164$630,466$3,106,170
16$6,158,040$2,236,663$661,989$3,259,388
17$6,465,942$2,350,586$695,089$3,420,267
18$6,789,239$2,470,206$729,843$3,589,190
19$7,128,701$2,595,807$766,335$3,766,558
20$7,485,136$2,727,688$804,652$3,952,796
21$7,859,393$2,866,163$844,885$4,148,345
22$8,252,362$3,011,562$887,129$4,353,672
23$8,664,980$3,164,231$931,485$4,569,265
24$9,098,229$3,324,533$978,060$4,795,637
25$9,553,141$3,492,850$1,026,963$5,033,328
26$10,030,798$3,669,583$1,078,311$5,282,904
27$10,532,338$3,855,153$1,132,226$5,544,959
28$11,058,955$4,050,001$1,188,838$5,820,116
29$11,611,902$4,254,592$1,248,280$6,109,031
30$12,192,498$4,469,412$1,310,693$6,412,392
Total$196,800,000$71,561,637$21,155,999$104,082,367

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.